BASF India share price surges 13% after stellar Q2 performance
Total income for the September quarter increased to Rs 2,462.8 crore from Rs 2,080.5 in the year-ago period.
November 05, 2020 / 12:01 PM IST
BASF India share price surged over 13 percent intraday on November 5, a day after the chemical maker reported a consolidated net profit of Rs 412.8 crore for the second quarter of the current fiscal
Its net profit stood at Rs 2.32 crore in the same quarter of the previous fiscal, according to a regulatory filing. Total income for the September quarter increased to Rs 2,462.8 crore from Rs 2,080.5 in the year-ago period.
Expenses remained higher at Rs 2,351.4 crore as against Rs 2,066.5 crore in the year-ago period. The company's overall income on a consolidated basis rose significantly in Q2 mainly because of a profit of Rs 465.19 crore from the sale of its construction chemicals business Master Builders Solutions India Pvt.
The stock was trading at Rs 1,516.30, up Rs 165.55, or 12.26 percent, at 1139 hours. It has touched an intraday high of Rs 1,555.00 and an intraday low of Rs 1,456.30.
The scrip also witnessed a spurt in volume by more than 11.28 times and was trading with volumes of 14,308 shares, compared to its five day average of 1,569 shares, an increase of 812.15 percent.
According to Moneycontrol SWOT Analysis powered by Trendlyne, the stock is showing strong momentum—price above short, medium and long-term moving averages. The company has zero-promoter pledge with the stock showing strong QoQ EPS growth in recent results.
Moneycontrol technical rating is bullish with moving averages and technical indicators being bullish.Disclaimer: The views and investment tips expressed by experts on moneycontrol.com are their own and not those of the website or its management. Moneycontrol.com advises users to check with certified experts before taking any investment decisions.